A budget constraint:
A. is the same across all individuals with the same income constraints.
B. is different for each individual with the same income constraints.
C. is the same across all individuals with the same tastes and preferences.
D. is different for each individual with the same tastes and preferences.
A. is the same across all individuals with the same income constraints.
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Refer to the table below. If Sweet Grams is a perfectly competitive firm and the market price $1.25 per unit, what is the profit-maximizing quantity for Sweet Grams to produce at Plant 2?
Sweet Grams makes graham cracker snack packages. Sweet Grams is a multi-plant firm with two production facilities. The above table summarizes the total marginal cost of production at various output levels in the separate plants. Assume Sweet Grams is a perfectly competitive firm.
A) 32,000
B) 30,100
C) 27,000
D) 22,500
Give at least three examples from economics where you expect some nonlinearity in the relationship between variables. Interpret the slope in each case
What will be an ideal response?
A bank initially has $620 million in assets and $580 million in liabilities. The banks net worth (capital) is _____________ million. If the bank's assets decline by 5% and its liabilities do not change, its capital decreases by ____________
A) $40; 5% B) $70; 141.4% C) $40; 77.5% D) $600; 5%
Which of the following is an asset of a family?
A. Unpaid credit card balance B. Student loan C. Mortgage D. Checking account balance